In a report released today, Heiko Ihle from H.C. Wainwright reiterated a Buy rating on Northern Dynasty Minerals (NAK), with a price target of $2.50. The company’s shares closed yesterday at $0.63.
Ihle wrote:
“We note that the withdrawal of a preemptive veto should significantly level the playing field for Northern Dynasty as management continues to advance the Environmental Impact Statement (EIS) and Federal permitting process for its Pebble Project in accordance with the NEPA. In short, management believes that the Proposed Determination may be withdrawn by the Trump Administration. This is especially pertinent since the Pebble Project Draft EIS highlights an opportunity for responsible investment with the simultaneous capability of meeting rigorous environmental standards. Right-of-Way agreement reached. The firm reported a finalized Right- of-Way agreement with Iliamna Natives Limited (INL) on May 15, 2019.”
According to TipRanks.com, Ihle is a 3-star analyst with an average return of 1.5% and a 50.2% success rate. Ihle covers the Basic Materials sector, focusing on stocks such as Solitario Exploration & Royalty, Americas Silver Corporation, and Golden Star Resources Ltd.
Currently, the analyst consensus on Northern Dynasty Minerals is a Moderate Buy with an average price target of $2.50.
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Based on Northern Dynasty Minerals’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $12.19 million. In comparison, last year the company had a net profit of $22.91 million.
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Northern Dynasty Minerals Ltd. engages in the exploration and development of gold and copper mineral properties. It holds interest in Pebble Copper-Gold-Molybdenum Project. The company was founded on May 11, 1983 and is headquartered in Vancouver, Canada.
